Book Review 2 Economy and State: A Sociological Perspective
In the book, Economy and State, authors try to connect reader with the inner workings the state and it’s relation to the economy. Unlike most authors, Bandeji and Sowers do not argue for minimal government intervention in economic affairs, but they discuss the relationship of the state and the economy. They argue that the state and the economy forged many types of relationships, which may end in different results. Bandeji and Sowers started to explain this relationship between state and economy in two …show more content…
Bandeji and Sowers also tackle the how state interacts when it comes to the issue of money. By this, they mean how the government controls how money is circulated into the economy and how they set its monetary policy. They also discuss how the state interacts with business in terms of labor, production, distribution of goods. Lastly, they discuss the state’s role in its economic development as well how it shapes global economic development.
According to Bandelj and sower, in recent years social media has become the driving force of the economy. Throughout the world social networking has provided people with thousands with jobs by creating an industry that has created more income online opportunities and sales. Instead of doing the traditional routine of leaving home, taking a long drive to work, and enduring a twelve hour shift with a boss hovering over their shoulder, many people, thanks to social networking, have opted to be self-employed, creating businesses based on social media.
Although businesses have begun to grow due to their relationship with social media, the extent of this growth is constricted by economic policies and laws put in place by the government with state agencies seeing that these laws and policies are complied with. This acts as a check and balance between businesses and the government, making sure that a monopoly is not created. If a monopoly were to be made there would be no competition to keep prices low